Terms
Liperpay Escrow Financial System Terms and Conditions
Introduction
Liperpay (“the Service”) is an escrow financial system founded in Kenya and operated by Kladit Technologies Ltd. (“the Company”). By using the Liperpay service, you (“the User”) agree to be bound by the terms and conditions outlined herein. The purpose of these terms is to ensure the safe and secure management of transactions facilitated through Liperpay, enabling buyers and sellers to conduct business with confidence.
These Terms and Conditions, together with any other policies or guidelines, govern the relationship between Liperpay and its Users. By accessing or using Liperpay, you acknowledge that you have read, understood, and agreed to these terms.
1. Definitions
1.1 Liperpay: The escrow service provided by Kladit Technologies Ltd.
1.2 Company: Kladit Technologies Ltd., a company incorporated in Kenya, which owns and operates Liperpay.
1.3 User: Any person or entity that uses the Liperpay service, including both Buyers and Sellers.
1.4 Buyer: A person or entity purchasing goods or services through the Liperpay service.
1.5 Seller: A person or entity selling goods or services through the Liperpay service.
1.6 Escrow Account: A secure, temporary holding account where funds are deposited by the Buyer and held until all conditions of the transaction are met.
1.7 Transaction: The purchase or sale of goods and/or services facilitated through the Liperpay service.
1.8 Dispute: Any disagreement or conflict between a Buyer and a Seller regarding a Transaction.
2. Eligibility and Registration
2.1 All Users must be at least 18 years of age and possess the legal capacity to enter into contracts.
2.2 Users must provide accurate, current, and complete registration information, including but not limited to full name, contact details, and bank account information.
2.3 The Company reserves the right to suspend or terminate accounts if any information provided is found to be false, inaccurate, or misleading.
3. Use of Service
3.1 Escrow Transactions: Liperpay acts as a neutral third party that securely holds funds in escrow until all agreed-upon conditions between the Buyer and Seller are fulfilled.
3.2 Payment Processing: All payments must be made to the designated Liperpay Escrow Account. Funds will be released to the Seller only when the Buyer confirms receipt of goods or services as specified in the Transaction Agreement.
3.3 Fees and Charges: Liperpay charges a service fee for each Transaction, which may be a percentage of the total transaction value or a fixed fee, as specified at the time of initiating the Transaction. This fee is non-refundable.
3.4 Prohibited Activities: The User agrees not to use Liperpay for any unlawful purposes, including but not limited to money laundering, fraud, or the purchase or sale of prohibited goods or services.
4. Transaction Process
4.1 Initiating a Transaction: The Buyer initiates a Transaction by selecting the goods or services and entering the agreed price. The funds are deposited into the Liperpay Escrow Account. 4.2 Delivery of Goods or Services: The Seller delivers the goods or services in accordance with the agreement between the parties. 4.3 Release of Funds: Upon satisfactory receipt of goods or services, the Buyer confirms and authorizes Liperpay to release the funds to the Seller. 4.4 Dispute Resolution: If the Buyer does not confirm receipt, or if a Dispute arises, Liperpay will hold the funds until the issue is resolved between the parties or through arbitration.
5. Refunds and Cancellations
5.1 Refunds: Refunds may be issued to the Buyer if the Seller fails to deliver the goods or services as agreed. The Buyer must submit a refund request through the Liperpay platform, providing relevant evidence of non-delivery or breach of agreement. 5.2 Cancellations: A Transaction may be canceled prior to the delivery of goods or services. In such cases, the Buyer will receive a full refund, less any non-refundable service fees. 5.3 Processing Time: Refunds and cancellations will be processed within 7-10 business days of confirmation by both parties.
6. Dispute Resolution
6.1 Raising a Dispute: Either party may raise a Dispute through the Liperpay platform if there is a disagreement over the Transaction.
6.2 Resolution Process: Liperpay will facilitate communication between the parties and may request supporting evidence such as delivery receipts, product images, or correspondence records.
6.3 Escalation: If a resolution cannot be reached within 14 days, the Dispute may be escalated to independent arbitration, where the decision will be final and binding.
6.4 Release of Funds During Dispute: Funds will not be released to either party until the Dispute is resolved or an arbitration decision is made.
7. Limitation of Liability
7.1 Liperpay is not responsible for the actual goods or services provided by the Seller. It only facilitates the secure transfer of funds between the Buyer and Seller.
7.2 Liperpay is not liable for any losses, damages, or claims arising from the use of the platform, including but not limited to delays, fraud, or misrepresentation by either party.
7.3 Users agree to indemnify and hold Liperpay harmless against any claims or liabilities resulting from the misuse of the service or breach of these Terms and Conditions.
8. Data Privacy and Security
8.1 Liperpay is committed to protecting the privacy and security of User data. Personal information is collected, stored, and processed in accordance with applicable data protection laws and Liperpay’s Privacy Policy.
8.2 Users must maintain the confidentiality of their account information and must notify Liperpay immediately in case of any unauthorized access or suspicious activity.
8.3 Liperpay implements industry-standard security measures to protect funds and personal information. However, Users acknowledge that no system is completely secure and agree to use Liperpay at their own risk.
9. Termination and Suspension
9.1 Liperpay reserves the right to terminate or suspend a User’s account at any time for violations of these Terms and Conditions, suspicious activities, or legal requirements.
9.2 Upon termination, any pending Transactions will be handled according to the applicable refund and cancellation policies.
9.3 Users may close their account at any time, provided there are no outstanding Transactions. Upon closure, all personal information will be handled in accordance with Liperpay’s Privacy Policy.
10. Amendments to Terms
10.1 Liperpay reserves the right to amend these Terms and Conditions at any time. Such amendments will become effective upon posting on the Liperpay website or notification to Users.
10.2 Continued use of the Liperpay service after amendments constitute acceptance of the revised Terms and Conditions.
11. Governing Law and Jurisdiction
11.1 These Terms and Conditions are governed by the laws of Kenya.
11.2 Any disputes arising out of or related to these Terms and Conditions will be subject to the exclusive jurisdiction of the courts of Kenya.
12. Contact Information
If you have any questions or concerns regarding these Terms and Conditions, please contact Liperpay at:
Kladit Technologies Ltd.
Liperpay.
Email: support@liperpay.com
By using Liperpay, you acknowledge that you have read, understood, and agreed to these Terms and Conditions.
Liper Bills Service Terms and Conditions
1. Introduction
The Liper Bills Service (“Bills Service”) enables users to organize, schedule, and facilitate payments for recurring or one-time financial obligations through their Liper Wallet.
By using the Bills Service, you acknowledge that you have read, understood, and agreed to be bound by:
• These Bills Service Terms
• Liper’s General Terms of Service
• Liper’s Privacy Policy
• All applicable laws and regulatory requirements governing digital financial services.
If you do not agree to these terms, you must not activate or use the Bills Service.
2. Nature of the Bills Service
The Bills Service is a digital financial organization and payment facilitation tool that allows users to:
• Allocate wallet funds for specific bills
• Set payment reminders
• Schedule or initiate bill payments
• Track upcoming payment obligations
The Bills Service is not a financial advisory service, not a lender, and not an insurance provider.
3. Payment Authorization and Execution
By scheduling a bill payment, you authorize Kladit Technologies Ltd (Liper) to deduct the specified amount from your Liper Wallet and remit it to the designated biller or recipient.
3.1. Accuracy of Information: You are solely responsible for ensuring that all biller details, account numbers, and payment amounts are accurate. Liper shall not be liable for payments made to incorrect accounts based on information provided by you.
3.2. Sufficiency of Funds: Payments will only be executed if your Liper Wallet has sufficient cleared funds at the time of the scheduled transaction. If funds are insufficient, the payment will fail, and you may be notified. Liper is not responsible for any penalties, late fees, or service disruptions caused by failed payments due to insufficient funds.
3.3. Timing of Payments: While Liper strives for instant processing, the actual time it takes for a biller to credit your account depends on the biller’s internal systems and third-party payment processors. You should schedule payments at least 2-3 business days before the actual due date to avoid late fees.
4. Recurring Payments and Autopay
If you enable recurring payments (Autopay), you grant Liper a standing authorization to process payments at the specified intervals until you cancel the instruction.
You may cancel or modify a recurring payment instruction through the Liper App at any time before the next scheduled payment date.
5. Cancellations and Reversals
Once a bill payment is initiated and successfully processed to the biller’s system, it cannot be reversed or canceled by Liper. Any disputes regarding the amount paid or the service provided by the biller must be resolved directly with the biller.
6. Service Fees
Liper reserves the right to charge convenience fees for certain bill payment categories. Any such fees will be clearly disclosed to you before you confirm the payment.
7. Limitation of Liability
Liper provides the Bills Service "as is" and "as available." To the maximum extent permitted by law, Liper shall not be liable for:
• Delays in processing by the biller or third-party networks.
• Losses arising from incorrect information provided by the user.
• Indirect or consequential damages arising from service use.
Liper Savings Service Terms and Conditions
1. Introduction
The Liper Savings Service (“Savings Service”) is a digital goal-setting and fund-allocation tool that allows users to set aside funds within their Liper ecosystem.
By activating or using the Savings Service, you agree to these Terms, Liper’s General Terms of Service, and our Privacy Policy.
2. Nature of the Savings Service
2.1. Self-Directed Tool: The Savings Service is a software interface designed to help you track and manage your personal financial goals.
2.2. No Interest: Funds held within the Savings Service (Target Goals) do not earn interest and are not held in a traditional interest-bearing savings account.
2.3. Not a Bank Account: Liper is a digital wallet provider. The Savings Service is a feature of your Liper Wallet and does not constitute a separate bank deposit.
3. Goal Creation and Funding
Users can create multiple savings targets with specific names, amounts, and timelines.
• Manual Funding: You can manually transfer funds from your Liper Wallet to a specific goal at any time.
• Automated Funding: If you enable "Auto-Save," you authorize Liper to automatically transfer a specified amount from your main wallet to your savings goal at set intervals (daily, weekly, monthly).
4. Access to Funds (Withdrawals)
Funds allocated to a savings goal are restricted from general wallet use until they are "withdrawn" or "unallocated" back to your main Liper Wallet. You can withdraw funds from your savings goals at any time through the Liper App. Liper does not charge fees for moving money between your main wallet and your savings goals.
5. Goal Descriptions and Assets
You may upload images or descriptions to personalize your goals. You represent that you have the right to use any content you upload and that it does not violate any third-party rights or community standards.
6. Termination
You can close a savings goal at any time. Upon closure, any remaining funds in the goal will be automatically transferred back to your main Liper Wallet.
Liper Money Pool Terms and Conditions
1. Introduction
The Liper Money Pool Service (“Money Pool”) is a social financial tool that allows users to create groups to collectively contribute funds for a shared goal.
By creating, joining, or contributing to a Money Pool, you agree to these Terms, the General Terms of Service, and the Privacy Policy.
2. Roles and Responsibilities
2.1. The Pool Creator: The user who initiates the pool. The Creator is responsible for setting the pool’s purpose, goal amount, and visibility (Public or Private).
2.2. The Contributor: Any user who sends money to a Money Pool.
2.3. Fund Management: All funds contributed to a Money Pool are held in a secure sub-wallet within the Liper ecosystem. The Creator is the primary authorized person to manage the withdrawal of these funds toward the stated goal.
3. Nature of the Service (Non-Escrow)
3.1. Social Trust: Money Pools are built on social trust. Liper facilitates the collection and holding of funds but does not guarantee that the Creator will use the funds for the intended purpose.
3.2. No Guarantee: Contributions to a Money Pool are voluntary. Liper is not liable for any misappropriation of funds by a Pool Creator.
4. Visibility and Privacy
• Public Pools: Can be discovered and joined by any Liper user.
• Private Pools: Can only be joined via a unique invite link or direct invitation from the Creator.
5. Contributions and Refunds
5.1. Voluntary Nature: All contributions are final. Once money is sent to a Money Pool, it cannot be reversed by Liper.
5.2. Refunds: Refunds are at the sole discretion of the Pool Creator. If a goal is canceled or not met, it is the Creator’s responsibility to return funds to contributors.
6. Disclosure and Transparency
Pool Creators must provide clear and honest descriptions of the pool’s purpose. Liper reserves the right to suspend or ban any pool that appears to be fraudulent, misleading, or violates our Prohibited Activities policy.
7. Prohibited Uses
Money Pools must not be used for illegal activities, including but not limited to:
• Ponzi schemes or pyramid schemes.
• Funding prohibited goods or services.
• Money laundering or unauthorized lending.